Markets open on all-time high, Sensex inches towards 34,000-mark

NEW DELHI: The stock market on Wednesday once again opened on a positive note as both Sensex and Niftystarted the day on all-time highs.

30-share BSE Sensex opened on 33,928.59, jumping 91.85 points while the broader 50-share NSE Nifty went 31.20 points above previous closing to open on 10,494.40. Both the indices had finished on Tuesday at closing highs.

However after the initial burst, the scrips were trading flat.

The Street has been buoyant since the ruling BJP received favourable mandate in the Gujarat and Himachal Pradesh assembly elections. Investors would be hoping that the bullish sentiment helps the markets overcome the resistance BSE and NSE indices are facing at 34,000 and 10,500- levels.

In Wednesday's early trade, the sectoral sub-indices were trading rangebound, with the Nifty PSU Bank dipping about a per cent. ONGC, Coal India, Maruti and GAILwere the major gainers while Kotak Bank, Adani Ports and Dr. Reddy were the laggards.